Try to pay off all debt at a good pace so I could take another mortgage out on the property to invest into more.

Would you be more likely to invest in an equity investment than debt?  

I second Brad dornish ;p He knows his stuff ;p Assured Settlement Solution is awesome title company (very investor friendly and experienced with REO and my crazy deals).

But I am going to assume for the sake of argument you are a super stud and found a deal that cashflows 2k per year, and you have about 2k in debt pay down.  

She has no debt whatsoever and good credit.

@Bernie HuckesteinHere are some items to be aware of when incorporating debt financing.1.

My wife and I have 0 debt so its a little scary doing this but a year will be here and gone before we know it so after all is said and done we will have 2 solid duplex's plus the JV deal that will provide about $1850 positive cash flow.

Purchase Price: $146,950Sales Price: $215,000Mortgage Debt: $107,000Borrow: ~$108,000I was told that we need to record the borrowed amount with the sale.

How do lenders view vacancies when calculating debt service coverage ratios?

I am a newbie and yet to make a deal.I want them to sign the property over to me and in return, I will settle all debt with the property and help them get into another place.